Hardship and Force Majeure in International Commercial Contracts PDF Download
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Author: Fabio Bortolotti
Publisher: Kluwer Law International B.V.
ISBN: 9403514736
Category : Law
Languages : en
Pages : 308
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Book Description
Force Majeure and Hardship are commonly invoked in international trade when unforeseen events occur making performance impossible or impracticable. Most national legislators provide rules to deal with these issues, but the specifi c solutions adopted in domestic laws vary substantially from one country to another. In recent years the growing complexity of trade in a globalized world has greatly increased the number of situations where a party can invoke force majeure or hardship. Parties need to be able to analyse the nature and characteristics of force majeure and hardship and look for contractual clauses which can regulate these issues in conformity with their needs. Written by international practitioners, this dossier explores the evolution of the rules on hardship, the ICC Clause on Hardship and the perspectives of contract adaptation by arbitrators. The section on Force Majeure includes an overview of recent arbitral case law (impediment beyond sphere of control and risk of the obligor; foreseeability; causation; notice requirement), analysis of the ICC 2003 Force Majeure Clause and an update on its revision. Two other important themes are included: the relationship between force majeure and applicable law, general principles of law and trade usages as well as the impact of economic sanctions.
Author: Catherine Pédamon
Publisher:
ISBN: 9789490962869
Category : Breach of contract
Languages : en
Pages : 109
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Book Description
This book addresses one of the more controversial dilemmas in transnational contract law, especially in times of economic volatility and change - how should the law and its agents assist in ensuring that contracting parties are held to their promises whilst seeking to prevent economic waste and disorder, both for the parties and society. We live in extremely challenging economic times - the huge financial maelstrom that broke in 2008 and the after-shock effects will remain with us for years to come. Through no fault on their part, commercial people find themselves caught in contracts which have become entirely unprofitable because of the economic turmoil. At the other end of the equation, others are concerned about their contracts not being performed because they have commitments to their own customers and stakeholders which had to be met. Whilst taking sides is frequently seen as the law's responsibility, this work argues that with the appropriate level of intervention by a neutral authority, such as a tribunal, a compromise might be found.
Author: Fabio Bortolotti
Publisher: Kluwer Law International B.V.
ISBN: 9403514736
Category : Law
Languages : en
Pages : 308
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Book Description
Force Majeure and Hardship are commonly invoked in international trade when unforeseen events occur making performance impossible or impracticable. Most national legislators provide rules to deal with these issues, but the specifi c solutions adopted in domestic laws vary substantially from one country to another. In recent years the growing complexity of trade in a globalized world has greatly increased the number of situations where a party can invoke force majeure or hardship. Parties need to be able to analyse the nature and characteristics of force majeure and hardship and look for contractual clauses which can regulate these issues in conformity with their needs. Written by international practitioners, this dossier explores the evolution of the rules on hardship, the ICC Clause on Hardship and the perspectives of contract adaptation by arbitrators. The section on Force Majeure includes an overview of recent arbitral case law (impediment beyond sphere of control and risk of the obligor; foreseeability; causation; notice requirement), analysis of the ICC 2003 Force Majeure Clause and an update on its revision. Two other important themes are included: the relationship between force majeure and applicable law, general principles of law and trade usages as well as the impact of economic sanctions.
Author: Karsten Keilhack
Publisher: GRIN Verlag
ISBN: 363877824X
Category : Law
Languages : en
Pages : 37
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Book Description
Essay from the year 2003 in the subject Law - Comparative Legal Systems, Comparative Law, grade: 67%, Cardiff University (Großbritannien; Law School), course: Comparative Contract Law, language: English, abstract: The UNIDROIT Principles of International Commercial Contracts1 have been published in May 1994 by the Rome-based International Institute for the Unification of Private Law (UNIDROIT), an intergovernmental organisation established in 1926. The Working Group on the UNIDROIT Principles was found in 1980 and consisted of independent legal scholars of all major legal systems of the world. The UNIDROIT Principles are not binding law. Most legal writers agree that they can be characterised as a restatement of the law of international commercial contracts2 and despite the controversial issue about the very existence, scope and content of a lex mercatoria - the possibility of applying supranational law to international legal relationships- most authors agree that it exists and that the UNIDROIT Principles are a significant part of it3. The object of this paper is to examine the UNIDROIT Principles' approach to hardship laid down in Chapter 6, Section 2 and to compare it with its equivalent provision in the German Civil Code (Bürgerliches Gesetzbuch, hereinafter BGB), § 3134. For this purpose it is firstly necessary to define the term "hardship". Thereafter I will consider the respective provisions in detail and highlight differences and similarities.
Author: Christoph Brunner
Publisher: Kluwer Law International B.V.
ISBN: 9041127925
Category : Law
Languages : en
Pages : 626
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Book Description
Lawyers involved in international commercial transactions know well that unforeseen events affecting the performance of a party often arise. Not surprisingly, exemptions for non-performance are dealt with in a significant number of arbitral awards. This very useful book thoroughly analyzes contemporary approaches, particularly as manifested in case law, to the scope and content of the principles of exemption for non-performance which are commonly referred to as 'force majeure' and 'hardship.' The author shows that the 'general principles of law' approach addresses this concern most effectively. Generally accepted and understood by the business world at large, this approach encompasses principles of international commercial contracts derived from a variety of legal systems. It's most important 'restatements' are found in the 1980 United Nations Convention on Contracts for the International Sale of Goods (CISG) and the UNIDROIT Principles of International Commercial Contracts (UPICC). Establishing specific standards and "case groups" for the exemptions under review, the analysis treats such recurring elements as the following: contractual risk allocations; unforeseeability of an impediment; impediments beyond the typical sphere of risk and control of the obligor; responsibility for third parties (subcontractors, suppliers); legal impediments (acts of public authority) and effect of mandatory rules; involvement of states or state enterprises; interpretation of force majeure and hardship clauses; hardship threshold test; frustration of purpose; irreconcilable differences; comparison with exemptions under domestic legal systems (impossibility of performance, frustration of contract, impracticability) The book is a major contribution to the development of the use of general principles of law in international commercial arbitration. It may be used as a comprehensive commentary on the force majeure and hardship provisions of the UPICC, as well as on Art. 79 of the CISG. In addition, as an insightful investigation into the fundamental question of the limits of the principle of sanctity of contracts, this book is sure to capture the attention of business lawyers and interested academics everywhere.
Author: Ahmet Cemil Yıldırım
Publisher:
ISBN: 9789058506696
Category : Commercial law
Languages : en
Pages : 0
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Book Description
The 20th century has witnessed many wars, natural disasters, political and financial crises, the spread of information and communication technologies, and the expansion of global trade. These political, economical, and social events had some effect on legal systems, both in national and international levels. As these events altered the equilibrium of many contracts, legal institutions that regard the restoration of the equilibrium of reciprocal contractual undertakings were developed in the last century, such as lesion, unconscionability, unfairness, gabin, eccessiva onerosita sopravvenuta, imprevision, Wegfall der Geschafts-grundlage, i'lem temelinin cokmesi, and hardship. This book examines these institutions in the context of national, international, and transnational laws from a comparative point of view. It illustrates how the legal remedies are applied in periods of political and financial crises in the context of various legal systems. The book is the most complete study of the UNIDROIT Principles' provisions on gross disparity and hardship that also include the relevant arbitral case law.
Author: Michael Joachim Bonell
Publisher: Martinus Nijhoff Publishers
ISBN: 900419469X
Category : Law
Languages : en
Pages : 706
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Book Description
The Unidroit Principles of International Contracts, first published in 1994, have met with extraordinary success in the legal and business community worldwide. Prepared by a group of eminent experts from all major legal systems of the world, they provide a comprehensive set of rules for international commercial contracts. This new edition of An International Restatement of Contract Law is the first comprehensive introduction to the Unidroit Principles 2004. In addition, it provides an extensive survey and analysis of the actual use of the Unidroit Principles in practice with special emphasis on the different ways in which they have been interpreted and applied by the courts and arbitral tribunals in the hundred or so cases reported worldwide. The book also contains the full text of the Preamble and the 180 articles of the Unidroit Principles 2004 in Chinese, English, French, German, Italian and Russian as well as the 1994 edition in Spanish.
Author: Joseph M. Perillo
Publisher:
ISBN:
Category : Comparative law
Languages : en
Pages : 26
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Book Description
Author: Maren Heidemann
Publisher: Bloomsbury Publishing
ISBN: 1137605197
Category : Law
Languages : en
Pages : 341
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Book Description
Transnational Commercial Law is a textbook that deals predominantly with substantive legal contract rules that apply across borders and are designed to govern cross-border business transactions. This is an emerging field of research, teaching and practical interest in international trade and commercial law, requiring reference to multiple areas of law, including both private and public international law, the law of specific commercial transactions and arbitration. For the first time Transnational Commercial Law combines all these relevant issues in one book, and provides a basis for further study as well as detailed, cutting edge academic analyses. It provides a compact yet accessible guide to the most important cornerstones of this evolving legal discipline. Transnational Commercial Law is aimed primarily for use on LLM courses and master's programmes in commercial law. Students are presented with the actual contractual rules in the wider context of the general legal framework, and situates it within the theoretical debate, providing a truly international perspective on transnational commercial law in a globalised world.
Author: Peng Guo
Publisher: Springer Nature
ISBN: 9811655138
Category : Law
Languages : en
Pages : 198
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Book Description
This book provides fair and acceptable solutions to hardship issues in long-term relational supply contracts. This book uses an approach to strike a balance between the traditional approach underlying classical contract law which emphasises the almost absolute prevalence of the principle of pacta sunt servanda and a flexible approach that is based on the principle of clausula rebus sic stantibus. This book argues for an emerging principle of pacta sunt servanda bona fide on the basis of the relational contract theory. Additionally, this book demonstrates how good faith can serve as a foundation for imposing a duty to renegotiate on the parties. The aim of this book is rather to propose how relational contract theory can be applied to the analysis of specific legal rules in general. Lastly, this boos highlights how the duty to renegotiate and the power to adapt a contract can be further developed upon the occurrence of hardship, based on good faith and the relational nature and characteristics of a long-term relational supply contract. This book explores and enriches the existing research on relational contract theory concentrates primarily on its application in domestic contract laws, particularly in the regulation of long-term contracts in American contract law. As an outcome this book provides a more feasible and satisfactory approach for courts or arbitral tribunals to undertake when facing hardship issues in international contract disputes. Overall, hardship themes, long-term relational supply contracts and good faith are examined extensively.
Author: Royston Miles Goode
Publisher: Oxford University Press, USA
ISBN:
Category : Law
Languages : en
Pages : 836
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Book Description
This companion to 'Transnational Commercial Law - Text, Cases and Materials' contains up-to-date primary materials for students without linking commentary.
